Carson Advisory Inc. Sells 76 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Carson Advisory Inc. cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,973 shares of the home improvement retailer’s stock after selling 76 shares during the quarter. Carson Advisory Inc.’s holdings in Lowe’s Companies were worth $655,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Drive Wealth Management LLC raised its stake in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares during the last quarter. Crown Wealth Group LLC raised its position in shares of Lowe’s Companies by 4.4% during the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after buying an additional 44 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Lowe’s Companies by 2.5% in the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after buying an additional 45 shares during the period. BLB&B Advisors LLC grew its position in Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after buying an additional 45 shares in the last quarter. Finally, First Bank & Trust increased its stake in Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after acquiring an additional 46 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $247.43 on Wednesday. The firm has a 50 day simple moving average of $237.82 and a 200 day simple moving average of $234.40. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market cap of $140.36 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.00 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the firm earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.86%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of research reports. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reduced their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Piper Sandler lowered their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Morgan Stanley raised their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $252.83.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.